Jubilee Metals Regulatory News (JLP)

16 Jan 2008 07:00

Jubilee Platinum PLC16 January 2008 16th January 2008 AIM: JLPJSE: JBL JUBILEE PLATINUM PLC ("Jubilee" or "the Company") Step-out Borehole DT11 Confirms continuity of Platinum Group Element Mineralisation at Depth on Tjate Project In-fill borehole DT10 intersects very wide Merensky reef (MR) layer Highlights • Step-out borehole DT11 (motherhole) intersected the Merensky Reef (MR) at 1280 metres • DT11 results show 5.57g/t 4E (platinum, palladium, rhodium and gold) over 0.8metres apparent thickness with associated 0.39% nickel (Ni) and 0.22% copper (Cu) • Significant Platinum Group Element (PGE) mineralisation in the hanging wall contact increases mineralised reef thickness to 1.0 metre apparent, grading 4.88g/t 4E with associated 0.37% Ni and 0.21% Cu • In-fill borehole DT10 intersected a wide zone (2.41 metres) of MR at 997 metres • The zone indicates two mineralised layers: the lower assaying 4.71g/t 4E over 3.4metres (including mineralised footwall) and the upper 7.94 g/t 4E over 0.41 metres with associated 0.33% Ni and 0.16% Cu Jubilee is pleased to announce results for a deep step-out borehole DT11 and anin-fill bore hole DT10 on the Dsjate farm of its Tjate Project in the easternBushveld Complex. DT11 was drilled to test the continuity of PGE mineralisationat depth and was a marked step out of some 1.5 kilometres to the west and downdip of the line of strike of drilled boreholes to date. The successfulintersection of the MR markedly increases the area of PGE mineralisation beyondthat used in the scoping study announced 20 September 2007, and in turnincreases significantly the area for inclusion in the geological resourceestimate. The result provides increasing vindication that continuity of PGEmineralisation is highly likely over the more than 5000 hectare Tjate property,which could contain up to 65 million ozs PGE plus gold in situ net of geologicallosses. Colin Bird, CEO of Jubilee and Tjate Project Manager, said: "Tjate represents amajor undeveloped block of PGE resource. The Company stepped out DT11 wellbeyond the boundaries reported in Tjate's scoping study in order to confirm thepotential for the Project to be a larger mine or to have an extended mine life.The results continue to confirm the Company's belief that PGE mineralisationunderlies the entire 5000 plus hectare Tjate property, which could host up to 65million ozs PGE plus gold in situ ." Results for DT11 are shown in Table 1 below. Table 1 Borehole DT11 results (cut off